Shares listed in Hong Kong extended a historic rally on Wednesday with the benchmark Hang Seng Index jumping for the sixth straight day on the back of stimulus policies that boosted optimism over China's economy.
The benchmark Hang Seng Index surged 6.2 percent to end at 22,443.73 points, almost hitting a previous high of over 22,700 points in January 2023, with turnover surpassing 434 billion Hong Kong dollars (55.9 billion U.S. dollars).
Over the last six trading days, the index gained almost 23 percent, making Hong Kong among the top-performing markets globally.
The Hong Kong Hang Seng Tech Index, representing 30 largest technology companies listed in the stock market, soared 8.53 percent to end at 5,157.08 points, while the Hang Seng China Enterprises Index climbed 7.08 percent.
The broad-based gains were fueled by a package of stimulus measures announced last week by China's financial regulators, which analysts expected would shore up the growth of the world's second-largest economy.
The country's central bank, top securities regulator and financial regulator have announced a raft of monetary stimulus, property market support and capital market strengthening measures to foster the country's high-quality economic development.
Wednesday's gain in Hong Kong followed substantial interest rate cuts announced by China's central bank and the easing of housing restrictions in some of the country's largest cities, which particularly boosted the real estate sector.
Property developer Sunac China Holdings Limited surged 75.57 percent, while Shimao Property Holdings Limited soared 153.15 percent.
Hong Kong stocks rally for 6th day as stimulus fuels optimism
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
